WR Berkley marine review points to specialty pain

WR Berkley's decision to suspend the underwriting of its London
marine market book places the spotlight firmly on the challenges of
writing profitably in a range of core EC3 specialty classes.
There have been massive compound rate reductions in property
direct and facultative, energy and aviation over the last two to
three years, with annual reductions in the 10-20 percent range.
All of these classes are now highly challenged, with rates below
technical levels, and experienced underwriters belie